Buildersrisk Liability
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Buildersrisk Liability
I have a client who is an owner builder and his contractor does not have liability insurance. Is there any companies that will write personal liability for this client eventhough his contractor does not carry GL?
no way
Joe agent, absolutely NOT... 
your wasting your time with these types of guy trying to max's there profit by cutting corners. 
I write a ton of contractors. If a personal lines COC was written and the underwriter found out the insured was an owner/builder they would cancel ASAP. 
One of the first questions for a COC, from the UW is please forward contractor lic. number and proof of GL. The GL on a COC is for comprehensive coverage only (slip & fell) on the property etc.
Builder risk: only covers the building during the course of construction and there is NO general liability afforded.
There is no product or completed operation coverage for the home.
The Contractor must carrier this GL, and the minium premium to build one home $800,000 repl cost is about $10,000 plus... may be $15,000.
your wasting your time with these types of guy trying to max's there profit by cutting corners. I write a ton of contractors. If a personal lines COC was written and the underwriter found out the insured was an owner/builder they would cancel ASAP. One of the first questions for a COC, from the UW is please forward contractor lic. number and proof of GL. The GL on a COC is for comprehensive coverage only (slip & fell) on the property etc. Builder risk: only covers the building during the course of construction and there is NO general liability afforded.
There is no product or completed operation coverage for the home.
The Contractor must carrier this GL, and the minium premium to build one home $800,000 repl cost is about $10,000 plus... may be $15,000.
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Nice Surplus Lines Broker
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walk away from this insured
If the contractor doesn't have GL, he probably doesn't have comp. either.
I just got two claims in on an insured, a building owner that was having rehab work done to a dwelling by a contractor. Lo and behold, the contractor did not carry Work Comp. A worker got hurt and got an attorney. The attorney is trying to turn in claims for BI to the property carrier and the CGL carrier.
Save yourself a bunch of headaches - tell the guy to get a contractor who is fully insured or go elsewhere.
I just got two claims in on an insured, a building owner that was having rehab work done to a dwelling by a contractor. Lo and behold, the contractor did not carry Work Comp. A worker got hurt and got an attorney. The attorney is trying to turn in claims for BI to the property carrier and the CGL carrier.
Save yourself a bunch of headaches - tell the guy to get a contractor who is fully insured or go elsewhere.
Nice Surplus Lines Broker writing in PA, NJ, MD and DE. Specializing in hard to place property
accounts up to $10mm. in value; tough CGL other than residential construction.
accounts up to $10mm. in value; tough CGL other than residential construction.